Connecting People and Community The Next Frontier in Apartment Marketing and Resident Retention

Few would associate strong community with apartment living. Yet forward-thinking owners and managers see the potential in building authentic community to attract and retain residents. The apartment industry has traditionally focused marketing and retention strategies around apartment features and services. Good floor plans, pools, fitness centers, 24-hour maintenance, and high-speed internet are indeed indispensable in today’s marketplace. Yet these amenities fail to provide a sustainable competitive edge.
Community focuses not on products or services – but relationships. Relationships are the anchors or “glue” that keeps residents for the long term.
The competition can always offer better landscaping, faster Internet service, and larger closets - but friendships and community are not easily replaced. Apartment Life is a Christian-based nonprofit organization that is passionate about helping owners "connect people and community". We recruit, train and manage onsite CARES Teams (married couple/family or two single adults) to assist management in building community and serving residents. CARES Teams turn an apartment into a "home" - including personal welcome visits, social activities, lease renewal programs and resident support in times of special need.
Meeting the human need for authentic community makes business sense. Independent studies by Witten Advisors have demonstrated that CARES adds $138,000 in value annually through reduced resident and staff turnover and increased leasing. With a total program cost of less than $20,000 (most of which is an apartment for the CARES Team), CARES provides over 600% return on investment.
Friendship Factor
Growing the friendships of a resident almost doubles their likelihood to renew their lease!
.JPG)
|